Three Ohio cities make it on exclusive list of ‘Top 10 Hottest Housing Markets of 2024’
In 2021, my husband and I decided it was the right time to buy a house. This was right before interest rates were raised, but the housing market was still off the charts. We put in about 10 offers, wrote letters to the previous owners about why our deaf and blind dog would love the house (including pictures of him of course, along with our wedding photos), and we even offered $60k-$80k over asking price for some of the homes. Eventually, we got so desperate that we started to agree to waive all inspections.
Fast forward 3 years later and….well…we’re still renting. We somehow lost out on every single home we were willing to pay way too much for. We don’t even dare to open the Zillow app anymore. The heartbreak was, and kind of still is, too much.
However, learning that Columbus has been considered one of the Top 10 Hottest Housing Markets for 2024 makes me feel a little better – if softens the blow. It shows that we were trying to buy in a very competitive market, with a plethora of all-cash buyers, in a city that’s rapidly expanding. It wasn’t necessarily just a problem on our side of things, even back in 2021.
USA Today released Zillow’s recent analysis of the Top 10 Hottest Housing Markets for 2024, and Columbus is now considered the third “hottest city” this year, only falling behind Buffalo, NY, and Cincinnati, OH.
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To create this list, Zillow examined the nation’s 50 most populous metros, taking into account Zillow’s forecast for local home value growth and the speed at which home sellers are entering contracts with buyers. They also analyzed expected home value appreciation from Dec. 2023 to Nov. 2024, job growth per new home permitted, and growth in owner-occupied households. Zillow also measured typical home value, the average mortgage payment, typical rent, and the average number of days a house is on the market for each city.
Here’s the full list of the Top 10 Hottest Housing Markets for 2024:
- 1. Buffalo, New York
- 2. Cincinnati, Ohio
- 3. Columbus, Ohio
- 4. Indianapolis, Indiana
- 5. Providence, Rhode Island
- 6. Atlanta, Georgia
- 7. Charlotte, North Carolina
- 8. Cleveland, Ohio
- 9. Orlando, Florida
- 10. Tampa, Florida
Sure, many problems arise with rapid expansions, but even in my cozy, rented home (that at this point, we’ll probably be renting forever), I still feel excited about living in a city, and state, that’s growing so quickly.
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